Written by Rajiv Nanjapla at The Motley Fool Canada
Last week, the Bank of Canada slashed its benchmark interest rates by 25 basis points to 4.75%. With inflation falling to 2.7% in April, Canada’s central bank is confident that inflation could cool down closer to its guidance of 2%. Thus, the central banker has stated that its monetary policy need not be restrictive. Amid the improvement in the macro environment, you can buy the following three TSX stocks trading at a considerable discount from their 52-week highs.
Telus
Telus (TSX:T) is one of the three leading players in the Canadian telecom sector that has witnessed substantial selling over the last two years. Along with higher interest rates, unfavourable regulatory decisions have weighed on the company’s stock price, which has lost 34% of its stock value compared to its 2022 highs. Also, it is down around 13% from its 52-week high, while its NTM…
